"We have cleared the NELP with some remarks and it is now for the finance minister to take a final decision," Choudhury told reporters here. The secretary, however, declined to give the details of the remarks made by the revenue department and said a decision would be arrived at soon on the issue which has delayed the notification of the NELP.

The finance ministry could not take up the issue of PTC because finance minister Yashwant Sinha was in Paris, he said. The petroleum ministry is awaiting clearance from the finance ministry for the PTC for the 48 oil blocks to be notified for bidding under the NELP.

Some of the provisions of PTC required amendments in the Income Tax Act and these were incorporated by the finance ministry in the Finance Bill which was passed inJuly this year.

The final approval of the tax code was awaited from the revenue department which has already caused a delay of over one month, the sources said.

Petroleum ministry has put off its proposed roadshows for the 48 blocks due to the last minute delays in PTC clearance from MoF.